SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Penns Woods Bancorp, Inc. (Nasdaq – PWOD)
BALA CYNWYD – December 20, 2024 /Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Penns Woods Bancorp, Inc. (“Penns Woods” or the “Company”) (Nasdaq – PWOD) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Northwest Bancshares, Inc. (“Northwest”) (Nasdaq – NWBI). Under the terms of the agreement, Northwest will acquire Penns Woods in an all-stock transaction. Penns Woods shareholders will be entitled to receive 2.385 shares of Northwest common stock for each share of Penns Woods common stock they own upon the effective time of the merger. Based on Northwest’s closing stock price of $14.44 as of December 16, 2024, the transaction consideration is valued at $34.44 for each share of Penns Woods
The investigation concerns whether the Penns Woods Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal offers fair value to the Company’s shareholders.
If you own shares of Penns Woods stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.